Charles Schwab

As the financial system teetered on the brink of meltdown in the fall of 2008, former Federal Reserve Chairman Alan Greenspan — known for years as “the Oracle” — admitted he had been blindsided by the housing crash and breakdown in the credit markets.

“This crisis … has turned out to be much broader than anything I could have imagined,” a chastened Greenspan testified before a House committee, which had summoned him to determine why one of the nation’s key financial regulators had failed to see the dangers in the explosive growth in subprime lending.

Those stumbles by Greenspan, who had stepped down in 2006 after more than 18 years leading the central bank, and other Fed...

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As the financial system teetered on the brink of meltdown in the fall of 2008, former Federal Reserve Chairman Alan Greenspan — known for years as “the Oracle” — admitted he had been blindsided by the housing crash and breakdown in the credit markets.
...

Before the 2008 financial crisis, BAC Community Bank in Stockton made about 100 mortgage loans a year. Now, after new regulations mandated in the Dodd-Frank Wall Street Reform and Consumer Protection Act, the figure is down to about two dozen.
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When Donald Trump takes the oath of office later this week, he will inherit the second-longest stock bull run in history, and a market valued at a record $26 trillion.
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